He wrote: "The Directors and staff of Lloyds Bank will give a Spitfire to our gallant Royal Air Force and would like it to be named 'The Black Horse' after our sign in Lombard Street."

The plane was delivered to RAF Kinloss in the north of Scotland on March 14 1941.

It suffered a number of crashes during its lifetime, including engine failure and crash landing in strong cross-winds, before its final flight in 1942.

Mr Snow said: "Presentation Spitfires have such a unique and personal history.

"They were paid for by the British public, organisations and businesses - to attempt to recover one and showcase it to people today is an opportunity I couldn't resist.

"These aircraft played such an important role during World War II, and this excavation, at such a poignant time marking the 75th anniversary of the Battle of Britain, symbolises that we will never forget, and will continue to educate others and commemorate the efforts of those involved."

The dig is being live streamed on the History Hit YouTube Channel, allowing members of the public to witness the excavation as it happens.

Tom Clifford, CEO of Ballista Media, added: "By using our History Hit YouTube Channel, we are able to give the public a minute by minute update on what could be one of the last ever digs of this kind.

"It's a moment in history that we want to share with as many people as we can and by using social media and instant broadcast channels, we are able to offer a unique viewing experience to commemorate an event which is fundamental part of the history of this country."